AGREEMENT TO MANAGE AND LEASE REAL ESTATE           SAMPLE

(This is a legally binding contract. If you do not understand it, seek legal advice.)

This agreement to manage and lease real estate is made and entered into as of this _______ ______________________ day of________________, _________ by and between________________________________________________________, hereinafter called the Owner

and  RE/MAX Plus, 16581 Airline Hwy, Prairieville, La 70769   &   1406 S Range Ave, Denham Springs, LA 70726 ,hereinafter called the Broker.

Whereas, Owner is the owner of the property known as (Address):   _________________________   

                                                                                                                         _________________________                                                                                                                     

Commission to Lease: _____%   of first month rent           OR                      $___________ Flat Fee.                        ?                 

Management Fee:        _____%   of full monthly rent (min $100) & (begins month #1 if tenant already in place)        

______ Security deposit to be held by RE/MAX PLUS in an escrow account for term of lease.                                             SAMPLE

 ______ Security deposit to be held by OWNER (Tenant to make check payable to owner).

The term of this agreement shall commence on the _______day of_______________________, ___________and expire on

____________  , _____ . This agreement is automatically renewable, upon expiration, for annual periods unless terminated by either party giving 30-days' written notice to the other party in advance of such termination date. However, the termination of this agreement shall not affect the right of Broker to receive leasing commissions or fees which have accrued on the date specified in such notice and have not been paid.

As agent for Owner, Broker owes Owner the duties of loyalty, obedience, disclosure, confidentiality, reasonable care and diligence, and full accounting. Broker must disclose all known material facts about the property which could affect a tenant's use or enjoyment of the property, disclose information which could have a material impact on either party's ability to fulfill their obligations under the lease agreement, respond honestly and accurately to questions concerning said property, and deal honestly and fairly with all parties.

The duties and responsibilities of Broker in connection with the management of said property are as follows:

1. 1.          Broker shall take all reasonable steps to collect and enforce the collection of all rentals and other charges due Owner from tenants of said property in accordance with the terms of their tenancies.
2. 2.          From gross revenues collected from said property, Broker is hereby authorized to deduct the rental management fee.
3. 3.          Broker will mail or wire balance of monthly rent to OWNER within 7 business days of rent being collected.
4. 4.          Broker shall deposit gross revenues collected into a special trust account in a bank whose deposits are insured by the Federal Deposit Insurance Corporation. Broker shall have authority to endorse checks payable to Owner, deposit funds of Owner into said trust account, and to draw on such account any payment to be made by Broker to discharge any of the liabilities or obligations incurred by Broker pursuant to this agreement.
5. 5.          Broker shall arrange all repairs, replacements and decorating necessary to maintain said property it its present condition and for the operating efficiency of said property after acquiring Owner’s written approval. The expense of any one item of maintenance shall not exceed the sum of $_________ unless authorized by Owner or unless Broker determines it to be an emergency. Owner approval is not required in the event of an emergency where immediate repairs are required to preserve the property, continue essential services to the property, avoid danger to life or property, or to comply with federal, state or local law.
6. 6.          Broker has the authority to negotiate, prepare and execute all leases and to cancel and modify existing leases as agent for Owner.
7. 7.       Broker shall advertise the availability for rent of the property or any part thereof and to display "For Rent" or "For Lease" signs thereon; to show property to prospective tenants; to execute leases, renewals or cancellations of leases relating to said property; to terminate tenancies and to sign and serve for Owner such notices as Broker deems appropriate; to institute legal actions in the name of Owner; to evict tenants and recover possession of said premises; to recover rents and other sums due, and to settle, compromise and release such actions.
8. 8.       Broker shall have authority to hire, supervise and terminate on behalf of Owner all independent contractors and property employees, if any, reasonably required in the operation of said property. All such property employees are employees of Owner.
9. 9.        Broker shall maintain accurate records of all moneys received and disbursed in connection with its management of said property, and such records shall be open for inspection by Owner at all reasonable times. Broker shall provide monthly financial statements to Owner.